Ginnie Mae is now targeting mid-tier issuers and servicers for stress testing to gauge their financial strength and ability to weather adverse economic conditions.
Continuing with its efforts to curb serial refinancing, VA is set to tell certain lenders that their recent refinances may be ineligible for a guarantee, accord-ing to industry sources.
VA lenders and servicers have been instructed to ensure that information regarding funding fee exemptions is current at the time of closing to avoid in-correct fee charges to disabled veterans.
The bank has managed to sell all securities received as collateral for a ware-house line of credit to now-defunct reverse-mortgage lender Live Well Financial.
The trade group has urged Ginnie Mae to treat issuer stress testing as just “one tool among many,” in which results serve as the basis for further analysis and engagement rather than as a driver for enforcement.
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